LG Electronics: UK sales suffer almost £100m fall as Samsung rivalry heats up August 14, 2024 Sales at the UK arm of LG Electronics have been slashed by almost £100m after it lost market share and Samsung stepped up its competition. The Surrey-headquartered division has reported a turnover of £561.4m for 2023, down from £654.3m, according to newly-filed documents with Companies House. Its pre-tax profit was also cut from £19.7m to [...]
Carpetright owed almost £350m when it collapsed into administration August 14, 2024 Carpetright owed almost £350m when it collapsed into administration with the loss of more than 1,500 jobs before being rescued, it has been revealed. The Essex-headquartered carpet and tiling retailer was acquired by rival Tapi in July in a move that saved the jobs of more than 300 people and 54 stores. At the time [...]
John Lewis to make redundancies as major store changes announced August 13, 2024 Department store giant John Lewis is to cut more than 150 jobs as it unveiled a major restructuring plan to its partners. The company is to reduce its headcount by 153 roles, about one per cent of its current workforce, which it hopes to achieve by natural attrition and voluntary redundancies. The news was first [...]
Philips shrugs off ‘challenging year’ with UK profit spike August 8, 2024 The UK arm of consumer electronics firm Philips shrugged off a “year of many challenges” to post a surge in profit for 2023. The division, which is headquartered in Farnborough, has reported a pre-tax profit of £26m for the 12 months, up from the £5m it posted in 2022. According to newly-filed accounts with Companies [...]
Former JD.com boss found to be still leading e-commerce giant from London August 4, 2024 The founder of the Chinese e-commerce giant JD.com, Richard Liu, has been silently leading the company from London despite stepping down in 2022.
From online to in-store: How retail is adapting to consumers August 3, 2024 The dual effects of the pandemic and the cost-of-living crisis, as well as the ever-improving technology on offer, have changed the way people shop and how retail adapts to customers.
Pets at Home: Revenue ticks up amid difficult year August 1, 2024 Total revenue at animal care retailer Pets at Home rose by one per cent to £441.1m in the 16 weeks to July 18, with like-for-like revenue up by 0.5 per cent.
With Ted Baker stores set to close across the UK, what did consumers make of the brand? August 1, 2024 Yougov’s chief executive Steve Hatch takes a closer look at the data behind the biggest stories in business.
Diageo: Shares at Guinness maker sink as Latin America hangover continues July 30, 2024 Diageo reported a decline in annual profit on Tuesday as issues in Latin America continued to weigh on the world's largest spirit maker.
Hammerson: Shopping centre giant hit with £500m loss after selling stake in Bicester Village July 25, 2024 British shopping centre giant Hammerson has taken a £500m loss on the £1.5bn deal to sell its share in the company behind Bicester Village, according to just-filed documents.